Alphabet Inc. (NASDAQ:GOOGL) is GAM Holding AG's 3rd Largest Position

GAM Holding AG cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 320,916 shares of the information services provider's stock after selling 9,571 shares during the quarter. Alphabet accounts for 3.8% of GAM Holding AG's investment portfolio, making the stock its 3rd largest holding. GAM Holding AG's holdings in Alphabet were worth $49,626,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. Norges Bank bought a new position in Alphabet in the 4th quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD boosted its stake in Alphabet by 8.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. Capital Research Global Investors boosted its stake in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Finally, Northern Trust Corp boosted its stake in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOGL traded up $2.86 during trading on Thursday, reaching $173.54. The company's stock had a trading volume of 31,717,471 shares, compared to its average volume of 30,881,270. The company's fifty day moving average price is $165.90 and its 200-day moving average price is $174.57. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.09 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the previous year, the company earned $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's payout ratio is 9.36%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,306 shares of company stock valued at $35,782,927 in the last quarter. 11.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Oppenheimer lifted their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Roth Mkm reaffirmed a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Wells Fargo & Company boosted their target price on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Susquehanna reduced their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $200.17.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.